What are the catalysts for success at your organization? We’ve worked with and within companies of all sizes, across various industries and business models. Through that experience, we’ve uncovered themes. Companies focused on these catalysts for success achieve more positive results.
What drives the success at a company? Let’s break it down.
Let’s face it, a business is not a business without people running it. But the invisible problem holding companies back is not simply employing people, but employing the right people. It can mean the difference between a company profiting vs. tanking, growing vs. staying stagnant, or becoming an industry leader vs. just more noise in the industry.
And, I’m not just talking about leadership. I’m referring to the executive team down to the day-to-day tactical employee. Every single individual at an organization is crucial to that it’s success. Depending on the size of your business, even one rotten apple can spoil the entire bunch. Therefore, it’s important to invest in the right talent from the start.
For example, Shift Paradigm spends a lot of time and energy recruiting and hiring the “best of the best” in the marketing and sales world so that we can deliver big wins for our clients and are the go-to partner for a host of world-class companies. That we invest in people who are willing and able to understand advanced methodologies, bring out-of-the-box strategies to the table, and deliver exceptional work is a big catalyst for our success. I believe this is true for most organizations.
Have you ever heard the saying, “A rising tide lifts all boats?” Well, that’s what the right people can do for your organization.
Employee Training & Coaching
Now that you’ve secured A-players at your organization, it’s time to keep them there! The most successful companies not only invest in finding the right people (talent acquisition), but also in retaining, developing and rewarding team members (talent management). In addition, savvy organizations look deeply at their employees’ talents and figure out how to best capitalize on them to drive high performance and growth (talent activation). It’s all about taking those people you’ve invested in recruiting and turning their potential into performance.
Training and coaching come in many forms, such as onboarding and orientations, certification classes, personal development classes, skills training, coaching from managers, mentorship programs, workshops and much more. How it’s structured isn’t really important. What’s crucial is that there are opportunities to continually develop employees at all levels, so that team members can perform in a way that ultimately drives company growth.
What’s more, employees are more likely to stay longer at companies that invest in developing them professionally and personally. And engaged team members with less turnover will always equal more success in the short and long-term.
High-growth businesses know that “Should we invest in technology?” is no longer the question anymore, but the expectation. “Which technology should we invest in?” is really what needs to be answered. There are so many types of technologies on the market today that help streamline and/or automate business processes and reporting that it’s sometimes an overwhelming task to pinpoint which one(s) will benefit the organization the most.
So here’s a tip: The key to investing in technology is to make sure it’s scalable. Meaning, is it going to help solve a problem today grow with the organization and be relevant years from now? The cost of implementing new software can be high (in dollars, time investment and learning curve), so choosing solutions that will support your business for the foreseeable future is another catalyst for organizational success. And remember, if you did a good job with the people investment and training piece, you should have the right people on board to pilot, launch, and lead new technology initiatives.
In addition, technology should be considered from the viewpoint of the organization as a whole, rather than siloed within departments. For example, if marketing is choosing to implement Marketo (a marketing automation platform), how can that be leveraged by sales?If business ops is looking to get a BI reporting tool such as Domo or Tableau, how can sales and marketing leverage those tools too?
What goes hand in hand with technological investment? Forming sustainable, strategic partnerships.Successful companies are constantly on the watch for other organizations to partner with, keeping an eye out for those that will complement their products/services, as well as help them increase sales and foster growth. But It’s a two-way street. The best partnerships benefit both sides of the fence, with business referrals flowing in both directions.
Shift Paradigm partners with many organizations that complement our services and ultimately help create a wider net of offerings for our clients. For example, some of our partners include Bizible,a marketing attribution and revenue planning software, SnapApp,an interactive content management platform, and Uberflip, a content experience platform. These partnerships allow us to better serve our clients and formulate a more strategic plan of action for accomplishing the company’s goals.
The last, but certainly not least, major catalyst for business success is thought leadership. Whether you’re trying to follow best practices, or prefer the beat of your own drum, you’ve probably searched Google or referenced industry publications to figure out the best way to accomplish something. You’re most likely looking for insights s like: Has this already been done before? How has this been done before? What is the standard or best practice for doing this? What are top companies doing? Whether you want a great knowledge base to start from, or plan to begin from scratch, thought leadership articles are out there to guide you along your decision-making process and strategy development.
Companies that are a step above the rest generally produce thought leadership content in a number of different ways— via white papers, webinars, blog posts, social media posts, guides, ebooks, videos, podcasts, case studies— just to name a few! This type of content benefits the company by showcasing their subject matter expertise, highlighting how their products and services fit into the mix, and establishing them as industry leaders.
Every organization is different and has unique requirements and standards for success. However, by hiring the right people, investing in employees’ professional development, taking advantage of scalable technologies, forming key relationships with strategic partners, and building a robust library of industry thought leadership, businesses embrace five core elements that catalyze performance, profitability, and the promise of a bright future